To keep up with surging loan demand, Bank of Boston Corp. said on Tuesday it plans to raise as much as $350 million of subordinated debt by the end of next week.

Loans and leases at the super-regional bank grew 10.2% in the last two quarters, far above the industry average. The proceeds of the issue are needed to buoy risk-adjusted capital levels as the bank adds assets.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.